Padder Guarantor + Padder Deposit: Lower your upfront move-in cost

The big idea

If you're using Padder Guarantor to support your lease application, you may still be asked to pay your landlord's standard first and last month's rent up front — in addition to your Padder Guarantor premium.

If your building also accepts Padder Deposit, you may be able to replace the traditional Last Month's Rent (LMR) deposit with a smaller one-time premium. That can significantly reduce what you need to pay at move-in.

Important: Padder is always optional. Your landlord can't require Padder as a condition of tenancy.

Scenario 1: No Padder (standard first + last)

Most landlords require first and last month's rent to secure a lease.

If monthly rent is $2,000, you typically pay:

$2,000 first month to the landlord
$2,000 last month deposit to the landlord

Total upfront: $4,000 (other deposits/fees not included)

Scenario 2: Padder Guarantor only

Padder Guarantor gives your landlord added assurance about your application. But many landlords will still require first + last month's rent under their standard process.

If monthly rent is $2,000, you may pay:

$4,000 to the landlord (first + last), plus
Padder Guarantor premium: typically 30%–130% of one month's base rent
- For $2,000 rent: $600–$2,600

Total upfront estimate: $4,600–$6,600

This is the reality check: for some renters, Guarantor-only can support the application — but the combined upfront cost can still be hard to swing.

Some landlords may choose to offer their own benefit or assistance to reduce tenant move-in costs, but that is always at the landlord's discretion and is never guaranteed.

Scenario 3: Padder Guarantor + Padder Deposit (where accepted)

If your landlord accepts Padder Deposit, you don't pay a traditional Last Month's Rent deposit to the landlord.

Instead, you pay:

First month rent to the landlord: $2,000
Padder Guarantor premium: $600–$2,600 (typical for $2,000 rent)
Padder Deposit premium: typically 10%–15% of one month's base rent
- For $2,000 rent: $200–$300

Total upfront estimate: $2,800–$4,900

That means you're replacing a $2,000 last month deposit with a $200–$300 premium — a reduction of roughly $1,700–$1,800 upfront in this example.

Quick comparison (using $2,000/month rent)

First + last to landlord (no Padder): $4,000
First + last ($4,000) + Guarantor ($600–$2,600): $4,600–$6,600
First to landlord ($2,000) + Guarantor ($600–$2,600) + Deposit ($200–$300): $2,800–$4,900

What this does (and doesn't) change

You still pay rent monthly as normal. Padder doesn't replace rent.
Padder Deposit doesn't pay your last month automatically. It protects your landlord if you move out without paying your last month's base rent.
If Padder pays a claim, you may owe Padder back under your indemnity agreement (just like you'd still owe unpaid rent in a normal tenancy).

How to know if you can bundle Guarantor + Deposit

You can only add Padder Deposit if your landlord/building accepts it.

If you're applying for Padder Guarantor in a building that accepts Deposit, you'll typically be considered for Deposit as part of the same flow.
If you're not sure, ask your leasing team or start with Paddie (AI chatbot) in the Padder Help Centre.